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TECHNICAL OUTLOOK

* Benchmark index traded volatile yesterday before closing with 0.13% gain at 21647 level. Banking index performed in line with the benchmark index as it closed with 0.16% gain at 47438 level.

* India VIX closed with 1.56% cut at 12.76 level.

* Among Sectors NIFTYENERGY index performed better than the benchmark index as it closed with 1.30% gain while NIFTYMEDIA index underperformed as it closed with 0.35% cut.

* Broader market outperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.66% and 0.79% gains respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was higher than 5-day average. FII were net sellers while DII were net buyers in the cash segment. 

* European markets (DAX) closed lower while US markets (DJIA) closed flat yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade with positive bias today. Index has support at 21550 - 21500 level and resistance at 21750 – 21800 level.

* Banking index is likely to trade in line with benchmark index today with support at 47100 - 46900 level and resistance at 47800 - 48000 level.

* PERSISTANT has closed with bullish candlestick and it is likely to trade with positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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